Big Grocery? Seriously? | Power Line
This is almost beyond belief. The grocery store business is notoriously competitive and relatively unprofitable. David Harsanyi writes that average margins [come] in at a little over 2 percent, one of the lowest margins of any industry:
[T]o put the numbers in context, health-care-products companies saw 10.91 percent net profits last year; home furnishers saw 4.63; household-product makers saw 11.71; restaurants saw 5.69; home builders saw 9.04; and online retailers saw 4.95.
The idea that there is such a thing as Big Grocery is so laughably stupid that only a far-gone ideologue like Elizabeth Warren could take it seriously.
The broader point is that, according to the Democrats, we have suddenly been beset by a plethora of capitalist conspiracies, worthy of Chavez/Maduro Venezuela: Big Oil is responsible for exploding gasoline prices, auto companies according to Warren are to blame for rapidly rising vehicle prices, semiconductor companies (again, per the eternally clueless Ms. Warren) are behind the chip shortage, and so on.
It is hard to understand why all of these industries would conspire to raise prices at the same time, coinciding by coincidence, apparently with the Biden administration s wild money-printing and spending spree. Hard to explain, that is, if, like Elizabeth Warren, you don t know a damn thing about economics.